$BTC
On November 29, the total open interest (OI) for Bitcoin futures amounted to ~$61 billion, down from a record ~$64 billion the previous week. This is according to data from Coinglass.
Data: Coinglass.
Over the past five weeks, the metric has increased by more than half. Bitfinex stated that this does not pose a risk of an imminent market correction, referring to the rise in OI as 'organic'.
In their opinion, the dynamics are based on expectations of future price growth.
On November 29, the total open interest (OI) for Bitcoin futures amounted to ~$61 billion, down from a record ~$64 billion the previous week. This is according to data from Coinglass.
Data: Coinglass.
Over the past five weeks, the metric has increased by more than half. Bitfinex stated that this does not pose a risk of an imminent market correction, referring to the rise in OI as 'organic'.
In their opinion, the dynamics are based on expectations of future price growth.